Research On Debt Risk Control Of Gansu Highway Aviation Tourism Investment Group Co., Ltd.

Preventing and resolving local government debt risks is the basis for ensuring the sustained and healthy development of the local economy.As a product of a special economic system,local government investment and financing platform companies have played a positive role in the development of the local economy,but rising debt risks have increasingly hindered the development of themselves and the local economy.To this end,the central government has issued a series of policy documents for the development of local government investment and financing platform companies,including the State Council's Circulars No.43 in 2014,No.50 and No.87 in 2017,and No.27 in 2018.Do a good job in reducing debt risks,and promote the market-oriented transformation of local government investment and financing platform companies.Therefore,platform companies must standardize their business activities and control debt risks during development,so as to complete market-oriented transformation as soon as possible.This article selects Gansu Provincial Highway Aviation Tourism Investment Group Co.,Ltd.(hereinafter referred to as "Gansu Public Aviation Travel Group")as the research object.The company has complex business operations and huge debt scale.In the actual operation process,debt risk control has achieved certain results,but There are still many problems,so it has a certain representation in the transformation and development of local government investment and financing platforms.This article is based on the relevant theories of risk management,internal control,entrusted agency,fiscal decentralization,etc.,based on the perspective of risk management,with risk identification,risk evaluation,and risk control as the research process,through literature analysis,case analysis,and comparative research The law studies the debt risk and control of Gansu Public Aviation Travel Group.The research found in this paper: First,in the debt risk analysis through the ratio analysis method,it was found that the group's restricted currency funds accounted for a high proportion of liquid funds,and the asset-liability ratio was higher than that of companies in the same industry and the same level.Debt capacity is not high;due tothe overall economic situation and local policies,overall gross profit margins have decreased and profitability has weakened;operating net cash flow cannot cover investment expenditures,and the cash required for investment activities mainly comes from its external financing and is repayable In the structure of debt sources,operating cash flow accounts for a relatively small amount.Second,under the comprehensive evaluation system of the local government's solvency based on the Z-value model and the platform company's own solvency,it was found that the comprehensive debt risk assessment score of Gansu Public Aviation Travel Group was in the middle-policy range in 2016,and was light in 2017 and 2018.Police interval.This shows that Gansu Public Aviation Travel Group's debt risk control has achieved certain results,which is worth learning from other companies of the same type.Third,through the analysis of the eight elements of internal control,it was found that the current status of its debt risk control and its existing problems in the internal environment,risk assessment,control activities,information and communication,and monitoring indicated that the Group 's internal control system should continue to be improved To further control debt risk.The research in this paper aims to increase the importance of Gansu Public Aviation Travel Group on debt risk control,affirm the "public aviation travel model" and provide further perfect countermeasures for the company's debt risk control,so that it can successfully complete the market-oriented transformation.At the same time,it also provides some reference experience for local government investment and financing platform companies in terms of debt risk control.